This subchapter shall only apply to electing large partnerships and partners in such partnerships.
(b) Coordination with other partnership audit procedures
(1) In general
Subchapter C of this chapter shall not apply to any electing large partnership other than in its capacity as a partner in another partnership which is not an electing large partnership.
(2) Treatment where partner in other partnership
If an electing large partnership is a partner in another partnership which is not an electing large partnership—
(A)subchapter C of this chapter shall apply to items of such electing large partnership which are partnership items with respect to such other partnership, but
(B)any adjustment under such subchapter C shall be taken into account in the manner provided by section
6242.